Traveling to the City by the Bay? It'll cost you. According to Bloomberg, the cost of staying at a San Francisco's hotel has risen to an average of $397 per night, making it the most expensive city for a hotel in the world.

San Francisco's nightly rates have climbed 88% in the past year; analysts site the city's tech boom and related work travel, as well as the majority of new developments focusing on housing and office space (both some of the most expensive rents in the country).

New York was the US city with the biggest decrease in hotel costs, dropping 13% to an average rate of $202.